By Laura Lutz
Des Moines, Aug. 30 - Halo Resources Ltd. announced plans to conduct a private placement of units for up to C$1.35 million.
The company will sell units of one share and one half-share warrant at C$0.45 apiece. Each full warrant will be exercisable at C$0.60 for 18 months.
Canaccord Adams is the agent for the placement.
The proceeds will be used for exploration and development at the company's Duport, Sherridon and Red Lake properties.
Halo is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Halo Resources Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.35 million (maximum)
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| Price: | C$0.45
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| Warrants: | One per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.60
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| Agent: | Canaccord Adams
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| Pricing date: | Aug. 30
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| Stock symbol: | TSX Venture: HLO
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| Stock price: | C$0.41 at close on Aug. 29
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